Air Lease Corporation (AL, Financial) (AL - $41.74 – NYSE) is one of the largest lessors of commercial aircraft in the world.Despite substantial nancial challenges within its airline customer base, Air Lease has maintained decent performance and good collection rates during the pandemic owning to the desirable pro le of its owned eet. Even so, the company had to lower earnings expectations during the second quarter. Some international customers are not bouncing back as quickly as previously expected. Furthermore, both Airbus and Boeing continue to struggle to deliver planes on schedule. is impedes Air Lease’s eet growth. Nevertheless, the company has built ample liquidity and is well-positioned to help nance the rebound in the industry.
From Keeley Asset Management Corp (Trades, Portfolio)'s Small-Mid Cap Value Fund second-quarter 2021 letter.
